Post-merger, Indalo raises $9M; Spark raising $331M; No word on Shkreli’s fate
→ A St. Louis-based biotech named Indalo Therapeutics — formerly Antegrin — has picked up the first $9 million of a planned $26 million investment, according to a Form D filed with the SEC. The filing includes a variety of high-profile VCs, including Ben Auspitz at F-Prime and Peter Barrett at Atlas. The company was created last fall through a merger of Antegrin Therapeutics and Cascadia Therapeutics. It’s focused on fibrosis.
→ Philadelphia-based Spark Therapeutics $ONCE is raising $331 million through a new stock offering. The gene therapy company has a lead program under review at the FDA, a closely-watched hemophilia B therapy and early data on hemophilia A.
→ We are now in day five of jury deliberations regarding the fate of Martin Shkreli, up on an 8-count fraud indictment. With no word from the jury, other than a long list of questions, bored reporters are covering Shkreli’s love of social media, including speculation about whether his cat may make an appearance on his live stream at home.
→ M&A may be near dormant right now in biopharma, but with GlaxoSmithKline’s Emma Walmsley looking to spur the pharma giant’s lackluster performance, it’s no surprise to hear that GSK is now being buzzed about as a potential buyer in the biopharma market. There is word that Glaxo is crunching the numbers on a deal for United Therapeutics $UTHR (market cap $5.5 billion) and its franchise drugs for pulmonary arterial hypertension, according to a report in the freewheeling Evening Standard (yes, the Standard) that is likely to be mocked in some circles. But, however unlikely that may be, you can expect these kinds of rumors to heat up as GSK undergoes another big round of changes. United shares, meanwhile, are up 9% in pre-market trading.